SOURCE: CAST, Inc.

CAST, Inc.

May 12, 2011 12:00 ET

Customers and Analysts Rate CAST a Buy in 2011

CAST Signs Significant New Customers and Sees Increasing Traction in First Quarter

NEW YORK, NY--(Marketwire - May 12, 2011) - CAST, the leader in software analysis and measurement, today announced an outstanding first quarter, with accelerating momentum on all fronts. CAST experienced an 18% increase in year on year software revenue, adding significant new customers and extending channel reach with major partners.

In addition to significant growth through IBM's testing practice and other channel partners, some of the more notable new customers in this quarter include:

  • The largest private healthcare provider in the UK
  • A top two retailer worldwide
  • A top ten utility operator in the UK and the US
  • A top five telecommunications operator worldwide
  • One of the largest European insurers
  • The national post carrier of a major Euro area economy
  • One of the top 10 India-based systems integrators

Two European equity analyst firms, Oddo Securities and Gilbert Dupont, have started coverage of CAST with 'buy' ratings and a target price. "Positioned in a recent market that is in an expansionary phase, CAST should benefit from specific levers, for which the signals have become positive over recent quarters," said Raphaël Hoffstetter, an analyst at Oddo.

One of these levers is increased complexity in application outsourcing. Last month Gartner named CAST a "cool vendor" in the Application Services space for enabling clients to measure sourcing outcomes. Each year Gartner selects a small number of vendors that "have the potential to change or affect a market in a significant way."

"The increasing traction with large enterprise IT executives and industry analysts has not gone unnoticed," said Vincent Delaroche, CAST Chairman and CEO. "I was glad to read that Gartner sees CAST as the emerging standard for measuring quality and productivity of vendor deliveries. We are seeing a notable uptick of interest from investors, partners and competitors in the software analysis and measurement space."

About CAST
CAST is a pioneer and world leader in Software Analysis and Measurement, with unique technology resulting from more than $90 million in R&D investment. CAST provides IT and business executives with precise analytics and automated software measurement to transform application development into a management discipline. More than 650 companies across all industry sectors and geographies rely on CAST to prevent business disruption while reducing hard IT costs. CAST is an integral part of software delivery and maintenance at the world's leading IT service providers such as IBM and Capgemini.

Founded in 1990, CAST is listed on NYSE-Euronext (Euronext: CAS) and serves IT intensive enterprises worldwide with a network of offices in North America, Europe and India. For more information, visit www.castsoftware.com.

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